According to Forbes: http://www.forbes.com/sites/erikamorphy/2014/05/29/is-it-really-worth-your-while-to-use-bitcoin-to-pay-your-dish-bill/
As with any other form of property, the sale or transfer of bitcoins in barter results in a taxable event for a bitcoin user. In the context of a purchase of goods or services for bitcoins, the purchaser has a taxable gain if the fair market value of the goods/services received exceeds the spent bitcoins’ adjusted basis (i.e., the net cost in US dollars of the purchaser’s acquisition of the bitcoins), and a loss if the fair market value of the goods/services received is less than the spent bitcoins’ adjusted basis.
Now to me, this actually sounds like excellent news. Let's say I bought one bitcoin for $1200 some time ago. And today, I want to pay Dish using bitcoin. In fact, I'm using the bitcoin I bought for $1200. I'm paying Dish $600 (for half a year, whatever). So I just lost $600 on the value of the bitcoin I purchased. I have a tax-deductible loss of $600, so I'm paying less taxes this year? Perhaps $200 less? Excellent! I can use that $200 toward my purchase of a fresh, new bitcoin for $600, and I'm only in fact paying $400 for that one, all thanks to the government! In stead of having invested $1200 in my bitcoin, I now have a bitcoin which I bought for $400!
For the record: I am no accountant, tax adviser, or whatever...
Topic: DISH becomes World's largest company to accept bitcoin (Read 1960 times)
Why do the members of this forum think Bitcoin needs to be used by everyone in the world to buy everything? Is it because you are all just holding and don't care about anything but profit? Bitcoins best use isn't for buying a candy bar or paying for your cable service, phone bill, power bill or gas for your car. Don't you people have debit cards? You know, debit cards are free to use too.
Who doesn't want to profit from their investments? What's wrong with that?
We're bitcoin fans and investors here. A huge company just accepted
Bitcoin and instead of being happy about it, you want to put a negative
spin on it. I don't get it.
I'm not meaning to be negative. I just see making Bitcoin into fiat and having every living soul use it as fiat is counter to why I think Bitcoin is the most important thing to happen in my lifetime. No one is a bigger fan of Bitcoin than I am. Everyone appreciates the financial freedom separate from government control that Bitcoin offers but no one realizes that using it with government supervision and reporting just makes it no different than a debit card. Marking your purchases by using a regulated exchange or paying for a service that has all of your contact information is not the best use of Bitcoin. Sending a tax free $20k to someone that's 10k miles away in a few minutes to make a purchase that may or may not be legal in your country is where Bitcoin shines. Huge companies are just going to learn to control Bitcoin like they control dollars until Bitcoin has no more value than fiat. Governments will tax it to buy bombs just like they do now with fiat. Huge companies will control the mining farms and issue Bitcoin denominated debit cards. If that happens people will have gained nothing. Hell maybe we should all support blacklisting too.
You want a high risk high yield investment, try junk bonds or real estate investment trusts.
Yippee! The American centralized absorption of Bitcoin is almost complete. Soon there will be no difference between Bitcoin and the American dollar. Coindesk will just swap you between them seamlessly as long as your birth certificate, blood sample and semen are on file.
There's a huge difference between the Bitcoin, and your average USD. I think it's the reason most of us joined, actually.
On Topic:
Coindesk actually gets something right, and interesting.
Why do the members of this forum think Bitcoin needs to be used by everyone in the world to buy everything? Is it because you are all just holding and don't care about anything but profit? Bitcoins best use isn't for buying a candy bar or paying for your cable service, phone bill, power bill or gas for your car. Don't you people have debit cards? You know, debit cards are free to use too.
A growing number of people have their primary income in BTC and do not want the fees related to converting to "worthless" paper money.
As the Dollar gets inflated, everyone has an increased incentive to earn, save, and sometimes spend BTC.
Why do the members of this forum think Bitcoin needs to be used by everyone in the world to buy everything? Is it because you are all just holding and don't care about anything but profit? Bitcoins best use isn't for buying a candy bar or paying for your cable service, phone bill, power bill or gas for your car. Don't you people have debit cards? You know, debit cards are free to use too.
Because more use means more value and less power in the hands of the aristocracy. Profit is awesome but there are many wonderful political and social aspects to mass adoption as well.
Very encouraging! This will get other business looking into integrating bitcoin payment too. Soon it will be a race to allow payment in bitcoin. 
This. It will be literally a moon race
Now an even bigger company will want to rush to be "the World's largest company to accept bitcoin".
The MIT experiment/giveaway, the Bud Concert Series, and now Dish Network....Wow!...This is shaping up to be a truly amazing time for Bitcoin.
Yippee! The American centralized absorption of Bitcoin is almost complete. Soon there will be no difference between Bitcoin and the American dollar. Coindesk will just swap you between them seamlessly as long as your birth certificate, blood sample and semen are on file.
Dude, I gotta punch the clown again?
legendary
Activity: 1302
Merit: 1008
Core dev leaves me neg feedback #abuse #political
Why do the members of this forum think Bitcoin needs to be used by everyone in the world to buy everything? Is it because you are all just holding and don't care about anything but profit? Bitcoins best use isn't for buying a candy bar or paying for your cable service, phone bill, power bill or gas for your car. Don't you people have debit cards? You know, debit cards are free to use too.
Who doesn't want to profit from their investments? What's wrong with that?
We're bitcoin fans and investors here. A huge company just accepted
Bitcoin and instead of being happy about it, you want to put a negative
spin on it. I don't get it.
Why do the members of this forum think Bitcoin needs to be used by everyone in the world to buy everything? Is it because you are all just holding and don't care about anything but profit? Bitcoins best use isn't for buying a candy bar or paying for your cable service, phone bill, power bill or gas for your car. Don't you people have debit cards? You know, debit cards are free to use too.
Yippee! The American centralized absorption of Bitcoin is almost complete. Soon there will be no difference between Bitcoin and the American dollar. Coindesk will just swap you between them seamlessly as long as your birth certificate, blood sample and semen are on file.
Don't be a Debbie downer.
This is a necessary step in the adoption process.
Agreed. There are those that will dislike everything. The biggest economy in the world adding some infrastructure is never a bad thing.
Yippee! The American centralized absorption of Bitcoin is almost complete. Soon there will be no difference between Bitcoin and the American dollar. Coindesk will just swap you between them seamlessly as long as your birth certificate, blood sample and semen are on file.
Don't be a Debbie downer.
This is a necessary step in the adoption process.
Agreed. There are those that will dislike everything. The biggest economy in the world adding some infrastructure is never a bad thing.
legendary
Activity: 1302
Merit: 1008
Core dev leaves me neg feedback #abuse #political
Yippee! The American centralized absorption of Bitcoin is almost complete. Soon there will be no difference between Bitcoin and the American dollar. Coindesk will just swap you between them seamlessly as long as your birth certificate, blood sample and semen are on file.
Don't be a Debbie downer.
This is a necessary step in the adoption process.
Yippee! The American centralized absorption of Bitcoin is almost complete. Soon there will be no difference between Bitcoin and the American dollar. Coindesk will just swap you between them seamlessly as long as your birth certificate, blood sample and semen are on file.
You mean Coinbase...not Coindesk..right?
Right
Yippee! The American centralized absorption of Bitcoin is almost complete. Soon there will be no difference between Bitcoin and the American dollar. Coindesk will just swap you between them seamlessly as long as your birth certificate, blood sample and semen are on file.
You mean Coinbase...not Coindesk..right?
Will be interesting to see how active DISH customers will be once they start accepting it. I imagine DISH will announce how much they process in Bitcoin each month once it happens? Very good news for sure to have such a large company accepting Bitcoin for a regular ol monthly bill for millions and millions of people.
This is pretty awesome, and it gives a great benefit (if it's played out properly): people can order their PPV pr0n and use Bitcoin so their wife doesn't find out!
haha!
It's great news for sure to get bitcoin acceptance for one of the most common monthly bills anyone pays. It'll be even more wonderful once other television providers and cell phone carriers do so as well.
I brought this up because people call the call centers for DirecTV all the time to ask if they can pay off their pr0n bill without it showing up on their statement (ie. "can I pay it right now and act like it never happened?") so that their family doesn't find out. And people also call and claim they didn't order it and it was their son/daughter/neighbor/pet.
I can't believe that people still pay for porn. It is so widely available on the internet for free. Er that's what a friend told me anyway.
That's only good when you're playing solo. What about when you're having a mandingo party?! Think outside the box, my friend. Now you can have all the enjoyment anonymously (at least I hope?) with DISH!
Have a lot of Mandingo parties do you?
BTW: Bitcoin isn't an anonymous payment system. Cash is.
What's a mandingo party?
And you can't pay DISH with cash as far as I'm aware.
FWIW, the point wasn't anonymity in terms of who you're paying, but rather what you're paying for. A big issue with DISH/DTV/etc. is that when you do PPV, it will show up on your bill because they have to run it through the credit card. Granting the secrecy of allowing you to pay off certain items with BTC and have them removed altogether would be an awesome benefit (for others, not me).
Your right you can't pay with cash. Anonymity will never be a factor with cable service. They know where you live. Method of payment has nothing to do with what shows up on your monthly invoice. You could pay them with whole fried chickens and your bill would still say playboy channel.
It doesnt matter to me if the purchase is on the bill or not, but it would be kinda cool to click a PPV and have a QR code appear on screen allowing me to pay directly and instantly with my phone.
I guess but I kind of like just paying at the end of the month and not worrying about paying every time I watch something.
Price rises when demand outweighs supply.
That isn't going to happen until people (consumers) start needing Bitcoin.
Right now, they don't need Bitcoin. There's almost zero incentive.
We are in the phase of merchant adoption, and that doesn't equate to sales or commerce yet, so price shouldn't move much.
The good news is that this builds the foundation for the rocket to the moon later.
-B-
That isn't going to happen until people (consumers) start needing Bitcoin.
Right now, they don't need Bitcoin. There's almost zero incentive.
We are in the phase of merchant adoption, and that doesn't equate to sales or commerce yet, so price shouldn't move much.
The good news is that this builds the foundation for the rocket to the moon later.
-B-
Will be interesting to see how active DISH customers will be once they start accepting it. I imagine DISH will announce how much they process in Bitcoin each month once it happens? Very good news for sure to have such a large company accepting Bitcoin for a regular ol monthly bill for millions and millions of people.
This is pretty awesome, and it gives a great benefit (if it's played out properly): people can order their PPV pr0n and use Bitcoin so their wife doesn't find out!
haha!
It's great news for sure to get bitcoin acceptance for one of the most common monthly bills anyone pays. It'll be even more wonderful once other television providers and cell phone carriers do so as well.
I brought this up because people call the call centers for DirecTV all the time to ask if they can pay off their pr0n bill without it showing up on their statement (ie. "can I pay it right now and act like it never happened?") so that their family doesn't find out. And people also call and claim they didn't order it and it was their son/daughter/neighbor/pet.
I can't believe that people still pay for porn. It is so widely available on the internet for free. Er that's what a friend told me anyway.
That's only good when you're playing solo. What about when you're having a mandingo party?! Think outside the box, my friend. Now you can have all the enjoyment anonymously (at least I hope?) with DISH!
Have a lot of Mandingo parties do you?
BTW: Bitcoin isn't an anonymous payment system. Cash is.
What's a mandingo party?
And you can't pay DISH with cash as far as I'm aware.
FWIW, the point wasn't anonymity in terms of who you're paying, but rather what you're paying for. A big issue with DISH/DTV/etc. is that when you do PPV, it will show up on your bill because they have to run it through the credit card. Granting the secrecy of allowing you to pay off certain items with BTC and have them removed altogether would be an awesome benefit (for others, not me).
Your right you can't pay with cash. Anonymity will never be a factor with cable service. They know where you live. Method of payment has nothing to do with what shows up on your monthly invoice. You could pay them with whole fried chickens and your bill would still say playboy channel.
It doesnt matter to me if the purchase is on the bill or not, but it would be kinda cool to click a PPV and have a QR code appear on screen allowing me to pay directly and instantly with my phone.
Will be interesting to see how active DISH customers will be once they start accepting it. I imagine DISH will announce how much they process in Bitcoin each month once it happens? Very good news for sure to have such a large company accepting Bitcoin for a regular ol monthly bill for millions and millions of people.
This is pretty awesome, and it gives a great benefit (if it's played out properly): people can order their PPV pr0n and use Bitcoin so their wife doesn't find out!
haha!
It's great news for sure to get bitcoin acceptance for one of the most common monthly bills anyone pays. It'll be even more wonderful once other television providers and cell phone carriers do so as well.
I brought this up because people call the call centers for DirecTV all the time to ask if they can pay off their pr0n bill without it showing up on their statement (ie. "can I pay it right now and act like it never happened?") so that their family doesn't find out. And people also call and claim they didn't order it and it was their son/daughter/neighbor/pet.
I can't believe that people still pay for porn. It is so widely available on the internet for free. Er that's what a friend told me anyway.
That's only good when you're playing solo. What about when you're having a mandingo party?! Think outside the box, my friend. Now you can have all the enjoyment anonymously (at least I hope?) with DISH!
Have a lot of Mandingo parties do you?
BTW: Bitcoin isn't an anonymous payment system. Cash is.
What's a mandingo party?
And you can't pay DISH with cash as far as I'm aware.
FWIW, the point wasn't anonymity in terms of who you're paying, but rather what you're paying for. A big issue with DISH/DTV/etc. is that when you do PPV, it will show up on your bill because they have to run it through the credit card. Granting the secrecy of allowing you to pay off certain items with BTC and have them removed altogether would be an awesome benefit (for others, not me).
Your right you can't pay with cash. Anonymity will never be a factor with cable service. They know where you live. Method of payment has nothing to do with what shows up on your monthly invoice. You could pay them with whole fried chickens and your bill would still say playboy channel.
Why do people want anonymity with pr0n all the time?
Your right you can't pay with cash. Anonymity will never be a factor with cable service. They know where you live. Method of payment has nothing to do with what shows up on your monthly invoice. You could pay them with whole fried chickens and your bill would still say playboy channel.
Where do you live that allows you to pay in chicken?!
And this is a big problem with the providers; you should be able to erase purchases by paying for them. If for no other reason than personal privacy. Once the purchase is made, it's over. There's no reason to have it lingering.
Will be interesting to see how active DISH customers will be once they start accepting it. I imagine DISH will announce how much they process in Bitcoin each month once it happens? Very good news for sure to have such a large company accepting Bitcoin for a regular ol monthly bill for millions and millions of people.
This is pretty awesome, and it gives a great benefit (if it's played out properly): people can order their PPV pr0n and use Bitcoin so their wife doesn't find out!
haha!
It's great news for sure to get bitcoin acceptance for one of the most common monthly bills anyone pays. It'll be even more wonderful once other television providers and cell phone carriers do so as well.
I brought this up because people call the call centers for DirecTV all the time to ask if they can pay off their pr0n bill without it showing up on their statement (ie. "can I pay it right now and act like it never happened?") so that their family doesn't find out. And people also call and claim they didn't order it and it was their son/daughter/neighbor/pet.
I can't believe that people still pay for porn. It is so widely available on the internet for free. Er that's what a friend told me anyway.
That's only good when you're playing solo. What about when you're having a mandingo party?! Think outside the box, my friend. Now you can have all the enjoyment anonymously (at least I hope?) with DISH!
Have a lot of Mandingo parties do you?
BTW: Bitcoin isn't an anonymous payment system. Cash is.
What's a mandingo party?
And you can't pay DISH with cash as far as I'm aware.
FWIW, the point wasn't anonymity in terms of who you're paying, but rather what you're paying for. A big issue with DISH/DTV/etc. is that when you do PPV, it will show up on your bill because they have to run it through the credit card. Granting the secrecy of allowing you to pay off certain items with BTC and have them removed altogether would be an awesome benefit (for others, not me).
Your right you can't pay with cash. Anonymity will never be a factor with cable service. They know where you live. Method of payment has nothing to do with what shows up on your monthly invoice. You could pay them with whole fried chickens and your bill would still say playboy channel.
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